BTG plc (BGC.L)'s Varicose-vein Drug Succeeds in US Study
1/30/2012 8:01:56 AM
Given the medical tech specialist also produces an antidote for snake venom, Varisolve may not be BTG's most glamorous product. Yet the news that its varicose-vein treatment has passed a major trial with flying colours not only saw the group shoot up to an eight-year high today but also put its takeover potential back in the spotlight. The path to production for Varisolve - which treats the affliction with an injectable foam, removing the need for surgery - has been rather bumpy. In 2003, a trial was halted by US regulators amid health fears but today the company announced a final-stage study of in the US had been completed without any safety concerns. With results from a second Phase III trial expected soon, the news not only prompted BTG above 340p for the first time since 2003 but also turned dealers' minds back onto the possibility of it attracting an aggressor.
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